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Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Advisors Inner Circle Fund III - Barrow Hanley Floating Rate Fd USD Cls I

BFRNX | Fund

$9.87

$103 M

8.82%

$0.87

1.01%

Vitals

YTD Return

3.1%

1 yr return

12.7%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$103 M

Holdings in Top 10

21.5%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.01%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 1.00%

Min Investment

Standard (Taxable)

$100,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Advisors Inner Circle Fund III - Barrow Hanley Floating Rate Fd USD Cls I

BFRNX | Fund

$9.87

$103 M

8.82%

$0.87

1.01%

BFRNX - Profile

Distributions

  • YTD Total Return 3.1%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 8.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Advisors Inner Circle Fund III - Barrow Hanley Floating Rate Fd USD Cls I
  • Fund Family Name
    Perpetual Funds
  • Inception Date
    Apr 18, 2022
  • Shares Outstanding
    11507328
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Erik Olson

Fund Description

BFRNX - Performance

Return Ranking - Trailing

Period BFRNX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.1% -1.2% 4.8% 18.32%
1 Yr 12.7% -4.4% 24.1% 3.82%
3 Yr N/A* -5.6% 8.0% 11.19%
5 Yr N/A* -7.1% 37.2% N/A
10 Yr N/A* -2.0% 19.3% N/A

* Annualized

Return Ranking - Calendar

Period BFRNX Return Category Return Low Category Return High Rank in Category (%)
2023 3.9% -12.0% 17.3% 19.47%
2022 N/A -22.9% 5.1% N/A
2021 N/A -12.2% 12.0% N/A
2020 N/A -14.1% 289.8% N/A
2019 N/A -8.1% 14.6% N/A

Total Return Ranking - Trailing

Period BFRNX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.1% -1.2% 4.8% 18.32%
1 Yr 12.7% -4.4% 24.1% 3.82%
3 Yr N/A* -5.6% 8.0% 14.09%
5 Yr N/A* -7.1% 37.2% N/A
10 Yr N/A* -2.0% 19.3% N/A

* Annualized

Total Return Ranking - Calendar

Period BFRNX Return Category Return Low Category Return High Rank in Category (%)
2023 14.4% -12.0% 30.3% 13.36%
2022 N/A -22.9% 5.1% N/A
2021 N/A -10.2% 19.4% N/A
2020 N/A -14.1% 306.9% N/A
2019 N/A -3.6% 23.8% N/A

NAV & Total Return History

BFRNX - Holdings

Concentration Analysis

BFRNX Category Low Category High BFRNX % Rank
Net Assets 103 M 29.9 M 13.5 B 94.01%
Number of Holdings 137 2 1605 90.41%
Net Assets in Top 10 21.3 M -191 M 2.48 B 88.56%
Weighting of Top 10 21.54% 5.2% 100.8% 25.56%

Top 10 Holdings

  1. BROWN BROTHERS HARRIMAN SWEEP INTEREST 4.65%
  2. MH SUB I, LLC (MICRO HOLDING CORP.) 5/3/2028 2.54%
  3. NEW SK HOLDCO SK 06/30/2027 AND CME SOFR +8.35 2.45%
  4. TMS/TUBE CITY 1/24 COV-LITE 3/2/2030 2.20%
  5. IMPERIAL BAG PAPER/IMPERIAL DADE 1/24 TL 12/11/2028 AND 0.50 SOFR 2.09%
  6. MAGNITE INC TL B 1L 0% 02/06/2031 1/31/2031 1.63%
  7. LIFEPOINT HEALTH, INC. 11/16/2028 1.51%
  8. THE CHEMOURS COMPANY 8/18/2028 1.51%
  9. GLOBAL IID PARENT LLC 12/16/2028 1.49%
  10. RUSSELL INVESTMENT 10/20 TL 6/2/2025 1.48%

Asset Allocation

Weighting Return Low Return High BFRNX % Rank
Bonds 		99.41% 0.00% 161.82% 11.44%
Cash 		4.65% -61.90% 18.85% 56.83%
Stocks 		0.00% 0.00% 100.78% 89.30%
Preferred Stocks 		0.00% -3.99% 6.42% 99.26%
Other 		0.00% -52.39% 26.58% 90.77%
Convertible Bonds 		0.00% 0.00% 5.51% 100.00%

Stock Sector Breakdown

Weighting Return Low Return High BFRNX % Rank
Utilities 		0.00% 0.00% 100.00% N/A
Technology 		0.00% 0.00% 100.00% N/A
Real Estate 		0.00% 0.00% 48.61% N/A
Industrials 		0.00% 0.00% 100.00% N/A
Healthcare 		0.00% 0.00% 100.00% N/A
Financial Services 		0.00% 0.00% 89.61% N/A
Energy 		0.00% 0.00% 100.00% N/A
Communication Services 		0.00% 0.00% 100.00% N/A
Consumer Defense 		0.00% 0.00% 100.00% N/A
Consumer Cyclical 		0.00% 0.00% 97.66% N/A
Basic Materials 		0.00% 0.00% 1.36% N/A

Stock Geographic Breakdown

Weighting Return Low Return High BFRNX % Rank
US 		0.00% -0.01% 100.78% 87.45%
Non US 		0.00% 0.00% 0.68% 89.67%

Bond Sector Breakdown

Weighting Return Low Return High BFRNX % Rank
Corporate 		95.92% 0.00% 141.23% 17.84%
Cash & Equivalents 		4.65% 0.00% 25.03% 53.51%
Derivative 		0.00% -8.79% 1.12% 86.72%
Securitized 		0.00% 0.00% 91.68% 100.00%
Municipal 		0.00% 0.00% 0.47% 99.26%
Government 		0.00% 0.00% 3.18% 99.26%

Bond Geographic Breakdown

Weighting Return Low Return High BFRNX % Rank
US 		99.41% 0.00% 144.71% 7.75%
Non US 		0.00% 0.00% 63.23% 94.83%

BFRNX - Expenses

Operational Fees

BFRNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.01% 0.03% 12.26% 60.81%
Management Fee 0.45% 0.00% 1.89% 6.12%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.27% N/A

Sales Fees

BFRNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

BFRNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 100.00%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BFRNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 4.00% 180.00% N/A

BFRNX - Distributions

Dividend Yield Analysis

BFRNX Category Low Category High BFRNX % Rank
Dividend Yield 8.82% 0.00% 11.02% 8.60%

Dividend Distribution Analysis

BFRNX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Monthly Monthly Monthly

Net Income Ratio Analysis

BFRNX Category Low Category High BFRNX % Rank
Net Income Ratio N/A 1.77% 9.82% N/A

Capital Gain Distribution Analysis

BFRNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

BFRNX - Fund Manager Analysis

Managers

Erik Olson

Start Date

Tenure

Tenure Rank

Apr 12, 2022

0.13

0.1%

Mr. Olson joined Barrow Hanley in 2001. He serves as a portfolio manager for our investment grade and high yield strategies. He also serves as an analyst for investment grade and high yield corporate bonds, both U.S. and non-U.S. His 21-year career includes work as a research analyst for Sanders Morris Harris. He has also worked at Merrill Lynch and as the legislative assistant for the Interstate Natural Gas Association in Washington, D.C. Mr. Olson received an MBA from Texas Christian University, where he served as a portfolio manager for the William C. Conner Foundation Educational Investment Fund. He earned a BA from Emory University.

Nicholas Losey

Start Date

Tenure

Tenure Rank

Apr 12, 2022

0.13

0.1%

Nick Losey joined Barrow Hanley in 2018. He serves as a portfolio manager, focusing on bank loans and high yield bonds. Mr. Losey was previously a portfolio manager at Whitebox Advisors, LLC and White Oak Global Advisors, LLC, where he focused on bank loans, high yield bonds, structured product CLO tranches, and equities. His 19-year investment career also includes serving as a portfolio manager at Highland Capital Management, LP. Mr. Losey earned a BBA from the University of Oklahoma and an MBA from Southern Methodist University, graduating magna cum laude.

Chet Paipanandiker

Start Date

Tenure

Tenure Rank

Apr 12, 2022

0.13

0.1%

Mr. Paipanandiker (Pai) joined Barrow Hanley in 2017. He serves as a portfolio manager, focusing on bank loans and high yield bonds. Mr. Pai was previously a portfolio manager at Whitebox Advisors, LLC and White Oak Global Advisors, LLC, where he focused on bank loans, structured product CLO tranches, high yield bonds, and equities. His 20-year investment career also includes serving as a portfolio manager and co-head of research at Highland Capital Management, LP. Mr. Pai earned a BBA from the University of Texas in the Business Honors and Engineering-Route-to-Business programs, graduating magna cum laude.

Michael Trahan

Start Date

Tenure

Tenure Rank

Apr 12, 2022

0.13

0.1%

Mr. Trahan joined BHMS in 2018. He serves as an analyst, focusing on bank loans and high yield bonds. Mr. Trahan was previously a senior analyst at Carlson Capital, LP, where he focused on bank loans, high yield bonds, credit default swaps, and special situation / post reorganization equities. His investment career also includes serving as a senior portfolio analyst at Highland Capital Management, LP, and as an associate at PricewaterhouseCoopers. Mr. Trahan earned a BBA and an MPA (Master in Professional Accounting) from the University of Texas.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.01 3.25

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